Oilseeds and Edible Oil Overview:
Oilseeds: Crops grown for edible oil extraction.
Variety: Soybeans, groundnuts, sunflower, mustard seeds, palm kernels.
Essential for Indian cuisine.
Production and Demand:
Crucial Role: India's oilseed production meets edible oil demand.
Influencing Factors: Weather, soil quality, agricultural practices.
Imports: Necessary when domestic production falls short.
Imports of Edible Oils:
India is a major importer.
Types: Palm oil, soybean oil, sunflower oil, canola oil.
Complement domestic production.
Sources of Edible Oil Imports:
Primary Suppliers: Indonesia and Malaysia (palm oil).
Others vary based on market conditions and trade agreements.
Import Demand and Trends:
Influenced by population growth, dietary changes, and industrial use.
Upward Trend: Increasing edible oil imports over the years.
Government Measures: Regulating import duties, promoting domestic oilseed cultivation.
Conclusion:
Essential to India's food industry.
Balance needed between domestic production and imports to meet dietary needs.
Edible Oil Production and Import Figures in India:
Oilseeds (2021-22): 38 million metric tonnes.
Demand: 25-26 million metric tonnes annually.
Imports (2022-23): 25% increase in the first nine months.
Estimated Total Imports (2022-23): Up to 15.5 million tonnes.
Major Imports: Palm oil (59%), soybean, sunflower, canola oil.
Import Bill (2021-22): ₹1.6 trillion.
Price Trends: 17% lower prices in July 2023.
Price Volatility: 19% rise in palm oil futures (Sept 2023).
Government Measures: Reduced import duties, promoted oil palm cultivation.
Biotech Initiatives: Approved genetically modified mustard pending Supreme Court field trials.
These figures illustrate the critical role of edible oil production and imports in India's food economy, with efforts to strike a balance between domestic production and imports to satisfy the country's growing edible oil demand.
